This Ethereum Scaling Solution Could Grow Three Times Its Size, According to Coin Bureau
The host of popular crypto channel Coin Bureau says that one Ethereum scaling solution could potentially see a 200% boost by the end of the current bull cycle.
Pseudonymous crypto analyst Guy tells his 1.7 million subscribers that Polygon (MATIC) could see a 2-3x increase, and possibly more if it follows through on its proposed roadmap.
“If you’re wondering how far MATIC could go before this bull market ends, a conservative estimate is another 2-3x.
MATIC’s massive market cap means that it’s unlikely to grow much larger than that.
That said, it is possible that MATIC could make an even bigger move, but that ultimately depends on Polygon’s roadmap.”
Polygon’s roadmap was recently revealed by MATIC co-founder Sandeep Nailwal and identifies the five milestones the layer-2 scaling solution aims to fulfill next.
These milestones include launching the Avail Side Chain, the Nightfall ZK Rollup scaling solution, an unnamed optimistic scaling solution, the introduction of application-specific side chains for Ethereum and the introduction of enterprise side chains.
The Avail Side Chain “is a general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechains & off-chain scaling solutions,” according to Polygon.
Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. The two types of rollups are optimistic rollups and zero-knowledge (ZK) rollups. Optimistic rollups automatically assume transactions are valid while ZK rollups run computations off the chain and then submit a validity report.
According to Guy, the Polygon team aims to have these additions up and running by early next year.
MATIC is exchanging hands at $2.18 as of writing, an 23% increase from its seven-day low of $1.77.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Vladimir Kazakov/d1sk